If the United States wants international support for the global minimum rate of corporate profit taxes, American technology companies must also make a fair contribution. British President Rishi Sunak said in an interview with the Mail on Sunday.
The finance ministers of the so-called G7 will meet next week. Government officials from the United Kingdom, France, Germany, Italy, Japan, Canada and the United States are talking about the White House’s plan for an international minimum of 15 percent for taxes on corporate profits. President Joe Biden wants to make tax evasion less attractive through PO Box companies in countries with favorable financial climate. But Sunak worries that particularly large technology companies will pay too little to the treasury.
“We need to make it clear to them why a fair tax on technology companies is important to us. We need an agreement, so I urge the United States and the G7 to do this. Negotiations are going well, but it needs a good deal with Britain,” Sunak said in the Sunday Mail. Companies, especially digital companies, are not able to pay the right taxes in the right countries. That’s not fair. ”
The UK government has previously introduced a special tax for digital businesses. Large international companies with search engines, web stores or social media are required to pay 2 percent of their earnings in the UK. This affects US concerns about Google, Facebook and Amazon. The United States therefore views the digital tax as discrimination against U.S. companies and threatens the British with import duties or other measures.
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